Telefonica 2Q Net Profit Rises 18%
July 27 2017 - 2:23AM
Dow Jones News
By Jeannette Neumann
MADRID--Telefonica SA (TEF) posted an 18% increase in net profit
in the second quarter from a year earlier as the Spanish
telecommunications giant also made some progress chipping away at
its debt pile.
The Madrid-based company on Thursday said second-quarter net
profit was 821 million euros ($963 million) versus 693 million
euros a year earlier.
Revenue in the second quarter was 13 billion euros, a 1.9%
increase from the year-earlier period. Telefonica said it was
upgrading its revenue guidance to increase by more than 1.5% in
2017 from a previous guidance of stable growth for the year.
Operating income excluding depreciation and amortization was 4.2
billion euros in the quarter versus 3.9 billion euros a year
earlier.
Telefonica's net debt decreased by 279 million euros in the
second quarter from the first quarter to 48.49 billion euros. That
reduction was thanks to free-cash-flow generation and the lower
value in euros of the net debt in foreign currencies, the company
said.
Write to Jeannette Neumann at jeannette.neumann@wsj.com
(END) Dow Jones Newswires
July 27, 2017 02:08 ET (06:08 GMT)
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